Private equity major Blackstone has acquired South City Mall in Kolkata for a transaction value of Rs 3,250 crore. A consortium of leading real estate players in the Kolkata region developed the South City Mall.
The mall was launched in January 2008. ANAROCK Group advised Blackstone in making one of its biggest real estate deals in India.
Spanning over one million square feet, the South City Mall is one of the biggest shopping malls in Eastern India. It features many international and Indian brands and generates an average annual turnover of over Rs 1800 crore.
It has the largest food court in Kolkata, multi-storeyed parking capable of holding over 1250 cars simultaneously, and houses 150+ stores.
“We are committed to continuing South City Group’s wonderful work and positioning South City Mall for long-term success, benefiting from our scale, operational expertise, and deep experiences in the retail sector, particularly in India where we own one of the largest retail portfolios,” said Asheesh Mohta, Head of Real Estate Acquisitions - India, Blackstone.
The New York-headquartered Blackstone is the largest owner of commercial and retail real estate in India. As of December 31, 2024, firm had over $1.1 trillion in assets under management.
Blackstone has invested more than $50 billion across different sectors in India over the last two decades. The world's largest alternative asset manager has hinted at doubling its total exposure in India to $100 billion in the coming years.
Blackstone recently announced acquiring up to a 66 per cent stake for Rs 1800 crore in Pune-based Kolte-Patil Developers.
Soumendu Chatterjee, Regional Director--Land, ANAROCK Group, says "We are delighted to have been the sole transaction advisor for the iconic South City Mall. We look forward to seeing the project continue to thrive in Blackstone’s able hands...The mall has a very high footfall -- daily visitors range between 55,000 and 60,000, surging to 75,000–200,000 during weekends and festive seasons.”